American's Reach For The Sky
September 19, 2008 10:37am CST
What does Bear Stearns, Fannie Mae, Freddie Mac, Merrill Lynch, Lehman Brothers, and AIG have in common? Answer for what ever reason has become your responsibility to keep afloat. Gone are the times when businesses fought for survival, a survival of the fittest in the business world. Now we have survival of who ever has the most connections to government. Why should we be outraged, well not only is the Federal government playing god with the economy, but at the expense of taxpayers, shareholders, and bondholders. Because we pay indirectly through our taxes and directly through losses in our own investments. If corporations are not allow to fail then they, if they are big enough, will not succeed. Corporation that makes bad financial decisions, no matter how big they are, should die off. Whole groups of species have died off and the eco-system survived, and so too would our economic system survive.
2 people like this
• United States
19 Sep 08
It seems that McCain agrees with you. http://www.breitbart.com/article.php?id=D939QJ4G0&show_article=1 It's like that story about the frog in a pot of boiling water. They can't bring about socialism all at once so the are doing it one bailout at a time.
19 Sep 08
I do think that when you borrow money, you should realize that you have to pay it back and you should know enough that you will have to feed, clothe yourself and your family, go to work, save for the future, and live on the rest. So if you borrow thousands and you cannot afford the necessities, it is your fault. These companies should have had more stringent rules as to who they lend their cash to. The people who are more careful should not pay for those who are careless. If you cannot afford to pay, do not borrow and companies that let everyone borrow no matter how irresponsible should fail. They did not do their homework.